Selling a House in Probate in Tennessee
The process of selling a house in probate can be a long and tedious one, but selling to us, TN Homebuyers in Tennessee, makes it simple and we can easily help. Here are the steps to selling a house in probate.
Appointment of an Administrator
The process of finding who will be the administrator or the person who calls the shots. If no one was ever specified, the closest relative usually becomes the administrator. This alone can cause an internal issue within the family because some may feel they were closer to the relative than the one appointed to be the administrator. Like we said, selling a house in probate in Tennessee is no fun.
Selling the Property
First, the house needs to be appraised. Next, you need to find a buyer who is willing/able to put down a 10% deposit. Once you find the person who is willing to do this, you will have to take that offer to the court. If it is approved, the heirs of the house will be notified. If one of the heirs has a problem with the offer, they can pose an objection to selling your house in probate in Tennessee. If there is no objection, the process continues.
Once the initial offer is accepted, the Judge will put it into auction. If someone wants to bid higher than the offer, the process of the auction begins. This can lead to the person who put the initial offer down to lose their 10% deposit for your house in probate in Tennessee.
As stated above, this is a very long process. I don’t know about you, but I don’t know anyone who would want to put 10% down on a house just to have it pass through a court to potentially be auctioned off to someone else. This will cost you extra money, and the house you are trying to sell will sit on the market for a long time creating more of a headache, especially during this hard time of your life.
So, now what? Did you know that if you find someone who will pay cash for the house in probate then you can avoid this long process? This sounds great, but it may be difficult finding the right buyer who has the cash in hand waiting to purchase this specific house. This is why TN Homebuyers is here to help free you from this mess and simplify the process. With us, avoid the hassle of hiring a realtor, waiting for court hearings and the auctioning process. We will make you a cash offer-no gimmicks, and no ulterior motives!
Feel free to contact us today at 615-299-5525. We can come out to the property today and give you a bid. We will take your house off of your hands in a short week! We would love to sit down and talk with you. We look forward to hearing from you soon.